“Activist investor Carl Icahn’s attempt to get Apple Inc. (AAPL) to return money to shareholders was criticized by the California Public Employees’ Retirement System, the largest U.S. public pension,” Jon Erlichman and Adam Satariano report for Bloomberg. “‘We are uncomfortable with a raider coming into a company with a proposal to disgorge cash,’ Anne Simpson, Calpers’ head of corporate governance, said in an interview today. ‘Carl Icahn is a Johnny come lately.'”
“Calpers, with more than $270 billion in assets, owned 2.4 million Apple shares as of Sept. 30,” Erlichman and Satariano report. “The fund is asserting itself after Icahn said earlier this month that he would try to win shareholder approval for his plan to ask Apple to increase the size of its stock buyback program.”
“Simpson criticized Icahn for being outspoken about his buyback plan, including Twitter messages about a dinner he had with Apple Chief Executive Officer Tim Cook,” Erlichman and Satariano report. “‘Sending tweets from under the dinner table — this is unseemly,’ she said.”
Read more in the full article here.
Another shot over the Icahn bow.
A lot more apt descriptions of this man could be made using graphic and very distasteful words.
But circumspect and decorum towards ones own self image precludes stooping that low in ones use of language.
Well done that woman! Trust a woman to portray tasteful criticism without besmirching herself! A hannajesq quality if she does not mind my saying so. 🙂
yeah, ask Beyonce.
How charming and chivalrous you are! But I couldn’t bear fair comparison with such a leader as Anne Simpson — outspoken as I might seem, I would not take on an apex predator like Carl Icahn, as she did. I’d simply concede his point, then retreat to curl up before a crackling fire with a pile of academic journals, a cat, and a snifter of brandy.
This sounds like a perfect response to an undesireable situation. I do it often, only fine belgian beer is my choice of tools to calm my rattled nerves after reading such drivel. Sometimes i just avoid the inertubes altogether, and just read the journals and have my Val-Dieu Trippel and since i started so more relaxed, i am further into the joy of reality (science) i don’t have to drink as much to recover!!!
i meant the drivel that is iCan’t
I am very impressed how well you expressed that sentiment. You are definitely a cut above the rest.
My sainted mother admonished me to praise others as was due, and I have too often been remiss. You remind me of her; God bless you.
CalPERS is an employee funded retirement system in addition to Social Security. There are employer matched funds as part of a negotiated benefits package, which includes healthcare, vision and dental. The employer matched funds are not used until the employee has been compensated their full contribution, after retirement of age 65 and 67 years. It is a private and responsible organization, which has made recommendations to organizations in the past in regards to the environment etc.
Some complain about CalPERS, yet do not understand it’s place in society. Gov. Arnold has tried to raid the fund for public spending.
Contributors are, All non-teaching state employees, including police, sherif, fire fighters, county workers, city workers, municipal utility employees like SMUD or waist management, etc.
With a state population of more than 30 million people, you better believe the single largest employer in the state, will also have the largest retirement fund.
CalPERS is an employee UNDERfunded retirement system. It has unfunded liabilities of $100 billion. It serves 1.6 million state and local government workers. That means it is short $62,500 for each worker it serves.
Enjoy your California retirement but be frugal because it is a certainty that you won’t be getting the pension you have been (over)promised.
Icahn is for Icahn. Everything else is a pretence.
Subjective observation: Having read all of the above, for me this has been a fascinating year for women. The men have bungled their way into a stalemate of incoherence and inaction. Meanwhile, I cannot remember a year that has been more influenced and enhanced by the work of women. It’s just my observation and is largely behind the scenes. But I very much hope the women will rise, tell we contentious men to quiet down, taking the reigns of leadership and wise guidance.
Either that, or I am enchanted by their siren song as my ship crashes on the reef of their island. 😉
Avoid that chick with the snake hair. She’s a total bitch.
She bites. Stone cold bitch! I can barely deal with looking at her in the mirror. But I hear she’s a great organizer, once she gets kraken.
Reading Homer’s Odyssey again? No wonder you still operate with Windows XP; your time is spread papyrus-thin across all those polymath interests.
Your honeyed words have not gone unnoticed. At the least, you have attracted the attention of Artemis, who has been known to play favourites.
Gentle reminder: reins, not reigns. 🙂